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UK-born ticketing platform DICE has been acquired by Stay occasions discovery platform Fever.
The information arrives in the identical week that Fever, which was final valued at $1.8 billion in 2023, secured one other $100 million-plus in fairness funding.
Fever didn’t disclose the worth of the deal, however affirmation of the sale arrives round a 12 months after Bloombergreported that DICE was in superior talks to promote a major stake in its firm, doubtlessly valuing it at “a whole lot of hundreds of thousands of {dollars}.”
DICE has itself raised greater than $200 million in funding up to now, together with a $65 million spherical in August 2023, led by MUSIC, the funding firm co-founded by Matt Pincus and LionTree. Different traders in that spherical have been StructuralCapital and Ahdritz Holding LLC, the funding automobile for Willard Ahdritz, founder and chairman ofKobalt Music.
In 2021, DICE raised $122 million from its Sequence C spherical led by SoftBank Imaginative and prescient Fund 2. Different traders included iPod inventor and iPhone co-inventor Tony Fadell’s Future Form, Blisce, French entrepreneur Xavier Niel, Mirabaud, Cassius and Evolution.
DICE and FEVER introduced on Thursday (June 5) that they’re becoming a member of forces with ambitions to “construct the world’s main impartial reside leisure tech platform”.
Fever claims that its viewers spans over 40 nations and reaches 300 million folks by way of its discovery platform and media.
Fever’s music companions embrace the likes of Primavera Sound, Fabrik, Final Tour, Cercle and TCE Presents. DICE works with venues, festivals, and promoters like Membership Area, Newport Jazz and Folks Pageant, Sonar, London’s Alexandra Palace and Tough Commerce globally.
DICE reviews that it has “greater than doubled its ticket gross sales” prior to now two years, surpassing 10 million month-to-month lively customers.
Commenting on the deal, Phil Hutcheon, Founder & CEO of DICE, stated: “Since launching DICE in 2014, we’ve stayed true to our mission to get folks out extra by continuously enhancing the fan expertise.”
“Becoming a member of forces permits us to scale even quicker. Reaching new cities, serving to promote out extra reveals, and delivering the seamless expertise followers count on.”
Phil Hutcheon
Added Hutcheon: “From our personalised Uncover characteristic to our upfront, all-in pricing and Waitlist characteristic, we’ve all the time put followers first. That very same ethos is what we’ve present in Fever.
“Becoming a member of forces permits us to scale even quicker. Reaching new cities, serving to promote out extra reveals, and delivering the seamless expertise followers count on.”
Fever introduced on Wednesday (June 4) that it’s secured $100 million-plus in fairness funding from non-public fairness corporations L Catterton and Point72 Non-public Investments, together with “current traders”.
These current traders notably embrace Goldman Sachs, which led a $227 million funding spherical within the firm in 2022 – what Fever referred to as “the biggest ever” funding spherical for a reside leisure tech startup – in addition to a $110 million spherical in 2023, which gave the corporate its $1.8 billion valuation.
The corporate didn’t replace its valuation in its announcement of the most recent funding spherical. Primarily based on knowledge from Tracxn, the corporate has in complete raised $527 million in funding, when together with the most recent spherical.
Fever was based in 2014.
Commenting on the deal, Fever Co-Founders Ignacio Bachiller, Alexandre Perez and Francisco Hein, stated: “Collectively, we’re strengthening our place because the main international tech participant for tradition & reside leisure.”
“We’re on a joint mission to place followers first and supply our companions with the very best and most progressive instruments.”
Ignacio Bachiller, Alexandre Perez and Francisco Hein, Co-Founders, Fever
They added: “We’re on a joint mission to place followers first and supply our companions with the very best and most progressive instruments.
“At Fever, we’re agency believers that knowledge and know-how have the facility to raise the reside music expertise, making it extra accessible, extra personalised, and finally extra impactful for followers, artists, and venues alike.”
Earlier this 12 months, DICE divested music platform Boiler Room, promoting it to European reside music large Superstruct Leisure.
DICE acquired the UK’s Boiler Room, an digital music-centric livestream platform, in 2021, only a week after it introduced that it had raised $122 million in Sequence C funding.Music Enterprise Worldwide
